Monday, February 27, 2012
Goodrich Revises 2012 Capex Budget
Goodrich Petroleum revised its already small Haynesville Shale 2012 capital budget downward last week. The company now is allocating $37.5 million to the Haynesville: $17.5 million for completion activities on 15 gross (5.5 net) wells and $20 million to drill two new wells in the Angelina River Trend area in East Texas. The company reallocated $20 million from the Haynesville program to the Eagle Ford by deferring completion on 15 gross (7 net) wells that were drilled in Q4 2011 or Q1 2012.
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